The Mexican peso is currently trading with an appreciation of 0.53% or 10.28 cents, around 16.53 pesos per dollar, with the exchange rate reaching a high of 16.6763 and a low of 16.5295 pesos per dollar, new low since the end of 2015.
«With these data» —explains Gabriela Siller Pegaza, head of the economic and financial analysis office of Banco BASE and professor of the Department of Economics of the Tec de Monterrey— «the peso accumulates an appreciation of 2.57% during the year and remains the most appreciated currency compared to the dollar in the broad basket of main exchanges”.
«The weight» — explains Siller — «is driven by the growth of net bets awaiting its appreciation on the securities market futureswhich last week reached a high not seen since March 2020. The exchange rate broke through the key support of 16.62 pesos per dollar, so further appreciation towards the 16.50 pesos per dollar level cannot be ruled out dollar, support which was last respected between November and the first days of December 2015″.
Despite the currency’s appreciation, Mexican exports grew at an interannual rate of 13% in February, reaching $50.7 billion, driven mainly by the automotive industry, INEGI reported today.
Automotive exports totaled $16.6 billion in February, up 26.9% year-over-year.
In the same month and with seasonally adjusted data, the country’s total merchandise exports recorded a monthly growth of 4.24%.
Photo: realestatemarket.com.mx
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